All Real Assets articles in Web Issue – Page 122
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PropertyEU Archive
Parkridge acquires Moscow warehouse development
Private developer Parkridge Holdings has acquired a 150,000 m[sup]2[/sup] warehouse development in Moscow from a private individual, the company said on Tuesday. While the sale price was not disclosed, the end value for the development once it is built and occupied is put at about £75 mln (EUR 112 mln).
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PropertyEU Archive
Patroffice in first German acquisition
Patroffice & Co, a property investment company set up earlier this month by Dutch pension fund ABP, Denmark's ATP Real Estate and Patrizia Immobilien, has acquired its first office property in Germany. Patroffice paid around EUR 5 mln for the complex, which is located at Munsterstrasse 359 in Dusseldorf.
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PropertyEU Archive
Sekyra Group aims to beef up foreign presence
Czech real estate company Sekyra Group plans to significantly strengthen its international presence in the next five years, company founder Lu-dek Sekyra told Czech Business Weekly in an interview. Sekyra said that some 10% of the company's projects are now outside the Czech Republic and Slovakia but that he ...
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PropertyEU Archive
HSH and Quantum sell office building in Hamburg
HSH Real Estate and Quantum Immobilien are selling the Atlantic Haus office building in Hamburg to UBS Wealth Management Continental European Property Fund for a sum said by market sources to be in the region of EUR 140 mln, Immobilien Zeitung reported on Tuesday.
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PropertyEU Archive
Wenceslas fund buys Witawa Family Center
The St. Wenceslas Property Fund has acquired the Witawa Family Center in Gdynia, Poland from Polish developer Allcon for about EUR 9 mln. The Witawa Family Center consists of shopping, leisure and office space and forms part of the Witawa apartment complex. It has a total commercial area ...
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PropertyEU Archive
C&W completes purchase of Sonnenblick Goldman
Property adviser Cushman & Wakefield has completed the acquisition of New York-based real estate investment banking specialist Sonnenblick Goldman. The debt and equity finance firm will be renamed Cushman & Wakefield Sonnenblick Goldman, C&W said in a press release.
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PropertyEU Archive
C&W: Poznan leads warehouse demand in Poland
Demand for warehouse space in Poland is strongest in the midwestern city of Poznan, according to a report published on Tuesday by property consultant Cushman & Wakefield. Some 118,500 m[sup]2[/sup] of warehouse space was leased in Poznan in the first six months of 2007, slightly more than was leased in ...
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PropertyEU Archive
Land sales drive Parquesol revenues in first half
Spanish listed property group Parquesol announced that profits after tax increased 6% to EUR 28.3 mln in the first half of 2007 as the company invoiced a total of EUR 99.4 mln for the period. Parquesol said that business volumes rose significantly in the first half of the year, ...
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PropertyEU Archive
SFL ups first-half profit and rental income
Societe Fonciere Lyonnaise (SFL) saw rental income rise 5.9% to EUR 83.3 mln in the first half of 2007 compared with the year-earlier period, the French company reported on Tuesday. Operating profit before fair value adjstments increased by 8.7% to EUR 72.3 mln from EUR 66.5 mln in the first ...
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PropertyEU Archive
SNS Bank tenders 11 offices in the Netherlands
Dutch retail bank SNS Bank said on Wednesday it is putting 11 office buildings it owns in the Netherlands up for sale in August. The properties will be sold by tender and are located throughout the country in Ablasserdam, Arnhem, Ede, Groningen, Hilversum, IJsselmuiden, Nijmegen, Oosterbeek, Venlo, Zeewolde and Zuidlaren.
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PropertyEU Archive
Gecina net income advances 17% in first half
French property company Gecina said net income after value adjustments rose 80.8% to nearly EUR 1.2 bn in the first six months of 2007 compared with the year-earlier period. Excluding value adjustments, net income was 16.6% higher at EUR 180.3 mln.
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PropertyEU Archive
Bauwert invests EUR 240m in Opel site
Berlin-based Bauwert Property Group is buying the Opel automotive plant in Russelsheim and plans to invest around EUR 240 mln in the site over the next four years, Immobilien Zeitung reported on Wedesday. Bauwert plans to build a shopping centre, homes, offices, leisure facilities and a business hotel on the ...
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PropertyEU Archive
Jove buys 4.9% stake in Spanish bank BBVA
Manuel Jove, the founder and former owner of Spanish property group Fadesa Immobiliare, has acquired a 4.9% stake in Spanish lender Banco Bilbao Vizcaya Argentaria (BBVA) for an investment of EUR 3.2 bn. The acquisition makes Jove the largest single shareholder in BBVA, Spain's seoond-largest bank.
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PropertyEU Archive
Toni Immobilien spins off office assets for EUR 60m
Munich-based private property investor Toni Immobilien Dr Krafft KG said it has sold three office buildings and five DIY markets in Eschborn, Hamburg and Leipzig to the Deutsche River Group for close to EUR 60 mln.
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PropertyEU Archive
First Industrial enters the Netherlands and Belgium
First Industrial Realty Trust, a provider of industrial real estate supply chain solutions, announced on Wednesday it is expanding into the Netherlands and Belgium. The Chicago-based company has hired a new managing director, Jan Scheers, to lead the expansion into these markets.
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PropertyEU Archive
Premiumred sells office building in Prague
Premiumred Real Estate Development, the property development arm of Austria's Investkredit Bank, is selling the Smichov Gate office building in Prague to PBW II Real Estate Fund for EUR 44 mln. PBW II Real Estate Fund is an IXIS AEW Luxembourg fund dedicated to Central Europe.
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PropertyEU Archive
Plaza Centers buys fourth retail development in Romania
Emerging markets developer Plaza Centers has acquired a major retail development project in Iasi, Romania, the company's fourth in the country since starting operations there in November 2006. The acquisition price was not disclosed, but Plaza Centers said the expected development budget for the project is EUR 115 mln.
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PropertyEU Archive
HSH Nordbank finances Dusseldorf 'Sky Office'
HSH Nordbank, the Hamburg-based lender to the transport and real estate sectors, is to finance the EUR 100 mln office development known as Sky Office in Dusseldorf. The project is being developed by Viterra Development, a subsidiary of Orco Germany, and is due for completion in September 2009.
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PropertyEU Archive
Epad launches tender for Tour Signal in Paris
Epad, the body which manages the development of La Defense business district in Paris, has launched an international tender for a new high-rise building in the area to be known as Tour Signal. Epad said the high-rise building would comprise at least 80,000 m[sup]2[/sup] and be a symbol of ...
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PropertyEU Archive
Fonciere logistics unit buys 830,000 m[sup]2[/sup] in logistics assets for EUR590m
Fonciere des Regions subsidiary Fonciere Europe Logistique said it has agreed to acquire 830,000 m[sup]2[/sup] of logistics assets in two separate transactions for a combined EUR 590 mln. The company said the acquisitions would expand its asset base in France, mark its entry into the wider European market, strengthen ...
